Amkor Technology Q4 Profit Rises

(RTTNews) - Amkor Technology, Inc. (AMKR) Monday reported fourth-quarter net income of $127 million or $0.52 per share, up from $99 million or $0.41 per share last year.

Net sales for the quarter increased to $1.37 billion from $1.18 billion last year.

Analysts polled by Thomson Reuters estimated earnings of $0.87 per share on revenues of $432.71 million for the quarter.

For the first quarter, the company expects net sales of $1.27 billion to $1.37 billion and earnings of $0.29 to $0.48 per share.

"We expect the first quarter to be another strong quarter, with revenue projected to be 15% above the first quarter of 2020, driven by continued recovery in automotive and better than seasonal demand for smartphones," said CEO Giel Rutten. "We see 2021 as another good growth year for Amkor as 5G deployment, high performance computing, IoT wearables and recovery in automotive are all expected to drive strong demand for our services."